Company profile
Burleson Energy is an Australian publicly-listed company (ASX: BUR) focused on drilling and developing hydrocarbons in the Gulf Coast region of Texas, one of the most prolific energy provinces in the United States.
We have aligned with quality US partners such as the experienced and family-owned AKG Energy to target conventional reservoirs – mainly Wilcox sandstone – using low-cost vertical wells in areas such as Colorado County, Texas.
With an 83% exploration drilling success rate since 2006, Burleson Energy has moved into development and production as well as exploration. We discovered and brought two fields onto production in 2010. One of these, Heintschel, is large with an independent audit estimating dry gas in place for the whole field at 111 Bcf plus 9.2 mmb of hydrocarbon liquids (condensate plus natural gas liquids (NGL)). AKG and BUR believe it could recover more than 160 Bcf plus liquids. We have four producing wells that currently generate revenue for the company.
Burleson Energy has numerous exploration targets across 26,000 acres, and our working interest in these prospects ranges from 36 to 75%. With our partners, we plan to drill a horizontal well on the Heintschel Field in late Q1 2012 and generate a development plan for the field by the end of June 2012, before proceeding to develop the field.